Frontier Stable Token (FRNT)
Frontier Stable Token (FRNT) is a state-issued stablecoin launched by the U.S. state of Wyoming. It is a fully collateralized digital token pegged to the U.S. dollar and backed by short-duration U.S. Treasury bills and cash reserves. [1] [2]
Overview
FRNT, the Frontier Stable Token, is a state-issued stablecoin created by the Wyoming Stable Token Commission and officially launched on August 19, 2025. It is the first stablecoin issued by a U.S. state government, marking Wyoming’s role as an early mover in government-backed digital assets. FRNT is designed to maintain a one-to-one peg with the U.S. dollar through reserves composed of dollars and short-term U.S. Treasuries, with an additional 2% overcollateralization mandated by law to provide added stability. Franklin Advisers manages the reserves, The Network Firm provides audits and monthly attestations, and LayerZero facilitates its cross-chain deployment. At launch, FRNT was available across several blockchains, including Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana, with Kraken listed as one of the first exchanges to support it through its Wyoming-licensed affiliate Kraken Financial.
The token’s introduction comes amid a $285 billion stablecoin market dominated by private issuers, such as Tether and Circle; however, its structure distinguishes it as a public-sector initiative exempt from certain federal oversight typically applied to private companies. The launch announcement was made at the Wyoming Blockchain Symposium, co-hosted by Kraken and SALT, highlighting the state’s broader push since 2016 to create a favorable legal environment for blockchain adoption, including over 45 pieces of crypto-related legislation. While positioned as a secure and regulated alternative to privately issued stablecoins, FRNT’s rollout was initially limited, as public purchase awaited additional regulatory approvals. [1] [3] [4]
History
The development of the Frontier Stable Token is a direct result of Wyoming's long-standing efforts to create a favorable regulatory environment for the digital asset industry. Since 2016, the state has enacted over 45 pieces of legislation related to blockchain technology and cryptocurrencies, establishing itself as a leading jurisdiction for digital innovation in the United States. This legislative groundwork paved the way for the creation of the Wyoming Stable Token Commission, the government body tasked with overseeing the issuance and management of FRNT. [1]
Wyoming Governor Mark Gordon, who also serves as the chair of the commission, highlighted the state's proactive approach:
“For years, Wyoming has been the leading state on blockchain, cryptocurrency, and digital asset regulation, passing over 45 pieces of legislation since 2016. The mainnet launch of the Frontier Stable Token will empower our citizens and businesses with a modern, efficient, and secure means of transacting in the digital age.”
Before its official launch under the name FRNT, the project was referred to by other names, including Wyoming Stable Token (WYST) and Wyoming Electronic Stable Token (WEST). [1] [2]
Technology
The Frontier Stable Token is structured as a multi-chain asset to maximize accessibility and integration within decentralized finance. At launch, it was deployed on Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base, making it available across both major and emerging blockchain ecosystems. Its interoperability is powered by LayerZero, a protocol designed to connect independent blockchains and enable the seamless movement of assets across them. This design prevents FRNT from being confined to a single network and positions it for use in a wide range of applications, exchanges, and platforms, reflecting Wyoming’s intent to establish it as a broadly usable digital currency rather than a chain-specific stablecoin. [1]
Tokenomics
The Frontier Stable Token (FRNT) is structured around a conservative reserve model to maintain stability and reliability, with each token pegged 1:1 to the U.S. dollar. Its reserves consist of U.S. dollars and short-term U.S. Treasury bills, chosen for their liquidity and low risk. Wyoming law requires the commission to maintain reserves of at least 102% of circulating supply, creating an over-collateralized buffer to safeguard redemptions. All reserve assets are kept in a legally separate trust, ensuring protection for token holders. Unlike algorithmic stablecoins, FRNT relies on fully backed and audited assets to uphold its peg. [1] [2]
Adoption
FRNT is positioned for both public and private sector uses, with a major integration through Visa, enabling payments at any merchant on its network. It is also compatible with Apple Pay, Google Pay, and physical cards, broadening its reach across digital and traditional payment systems. The Wyoming Stable Token Commission has highlighted potential government applications, including vendor payments, tax refunds, and social benefits, which can be delivered on-chain. These use cases are presented as ways to increase efficiency and transparency in state-level financial processes.
Public access to FRNT is planned as a gradual rollout. Kraken, a Wyoming-based exchange, will be the first platform to offer the token, beginning with issuance on Solana. Broader availability will depend on regulatory clearance and future announcements from the commission. [1] [2]